Signaturefd LLC Purchases 175 Shares of Simon Property Group, Inc. (NYSE:SPG)

Signaturefd LLC raised its stake in Simon Property Group, Inc. (NYSE:SPG) by 3.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 4,947 shares of the real estate investment trust’s stock after purchasing an additional 175 shares during the quarter. Signaturefd LLC’s holdings in Simon Property Group were worth $706,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. LPL Financial LLC lifted its position in Simon Property Group by 16.6% in the third quarter. LPL Financial LLC now owns 360,116 shares of the real estate investment trust’s stock valued at $38,903,000 after purchasing an additional 51,380 shares during the last quarter. Nordea Investment Management AB lifted its position in Simon Property Group by 4.6% in the fourth quarter. Nordea Investment Management AB now owns 152,740 shares of the real estate investment trust’s stock valued at $21,923,000 after purchasing an additional 6,703 shares during the last quarter. SG Americas Securities LLC lifted its position in Simon Property Group by 121.5% in the fourth quarter. SG Americas Securities LLC now owns 32,003 shares of the real estate investment trust’s stock valued at $4,565,000 after purchasing an additional 17,552 shares during the last quarter. Cornerstone Wealth Management LLC bought a new stake in Simon Property Group in the fourth quarter valued at approximately $238,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Simon Property Group by 9.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 81,813 shares of the real estate investment trust’s stock valued at $11,670,000 after purchasing an additional 7,250 shares during the last quarter. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Trading Up 1.0 %

NYSE SPG opened at $143.78 on Wednesday. The stock has a market cap of $46.86 billion, a P/E ratio of 20.60, a P/E/G ratio of 7.47 and a beta of 1.65. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 7.54. Simon Property Group, Inc. has a 12 month low of $100.17 and a 12 month high of $157.82. The stock’s fifty day moving average price is $149.30 and its 200-day moving average price is $136.47.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Monday, February 5th. The real estate investment trust reported $2.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.34 by ($1.05). The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.38 billion. Simon Property Group had a net margin of 42.30% and a return on equity of 70.97%. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the previous year, the company earned $3.15 earnings per share. As a group, equities analysts forecast that Simon Property Group, Inc. will post 12.06 EPS for the current fiscal year.

Simon Property Group declared that its board has authorized a share repurchase plan on Thursday, February 8th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the real estate investment trust to reacquire up to 4.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 8th were issued a $1.95 dividend. This is an increase from Simon Property Group’s previous quarterly dividend of $1.90. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $7.80 dividend on an annualized basis and a yield of 5.42%. Simon Property Group’s dividend payout ratio is currently 111.75%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SPG. Evercore ISI boosted their target price on Simon Property Group from $142.00 to $150.00 and gave the company an “in-line” rating in a research note on Wednesday, February 28th. Truist Financial boosted their target price on Simon Property Group from $139.00 to $147.00 and gave the company a “hold” rating in a research note on Friday, March 22nd. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Finally, Morgan Stanley boosted their target price on Simon Property Group from $143.00 to $145.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $140.22.

Simon Property Group Profile

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.